Clearstream Banking1 informs clients that effective
immediately
Citibank Argentina acting as Clearstream Banking’s cash correspondent bank (CCB) for Argentina (ARS), applies an enhancement in its cash payment process: Swift MT202/103 messages received for cash payments at Citibank are processed on a straight-through processing (STP) basis.
Impact on clients
Clients are required to follow the updated formats provided below to ensure STP processing of cash instructions for ARS cash transfers. Messages not following this structured format will be processed manually until 28 February 2024, provided that all mandatory information is included.
Starting 1 March 2024, MT202 and MT103 instructions for interbank cash transfers and book-to-book payments that do not follow the cash instruction formats will be rejected at CCB level and clients will have to re-send instructions using the correct template.
Additionally, any change, extra character and additional information included in the cash instruction will lead to non-straight-through processing (STP) and therefore will be rejected.
Clients are required to follow the correct Swift MT202 and MT103 formatting to ensure full STP and to validate if they have any limitations to follow the mandatory instruction templates provided by Clearstream Banking’s CCB.
Book transfers
MT103
:20: Transaction Reference Number
16 characters maximum
:32A:190225ARS10
ARS
:53A:1111111111
Local cash account to be debited (10 digits, only numbers)
:57A:XXXXXXXX
BIC of beneficiary bank
:59A:/2222222222
Credit account (10 digits, only numbers)
MT202
:20: Transaction Reference Number
16 characters maximum
:32A:190225ARS10
ARS
:53A:1111111111 Local cash account to be debited (10 digits, only numbers)
:56A: XXXXXXXX BIC of beneficiary bank (in this case CITIUS33ARR)
:57A:/2222222222 Credit account (10 digits, only numbers)
:58A:/333333
Participant code in ICSDs (only numbers)
Bank transfers to local banks (for example, for TPFX)
MT103 or MT202 when beneficiary is the receiving bank
:20: Transaction Reference Number
16 characters maximum
:32A:190225ARS10
ARS
:53A:1111111111 Local cash account to be debited (10 digits, only numbers)
:72:/REC/44444444444 Beneficiary bank tax ID (11 digits, only numbers)
:57A:/22222222222222222222222
CBU code of beneficiary (22 digits, only numbers)
/NAME/XXXXXXXXXX
Name of beneficiary bank
/PEP/XXX PEP/NO PEP. If blank, CCB will take NO PEP as default.
MT103
:20: Transaction Reference Number
16 characters maximum
:32A:190225ARS10
ARS
:53A:1111111111
Local cash account to be debited (10 digits, only numbers)
:59A:/ 2222222222222222222222
CBU (Unique Bank Code) of beneficiary (22 digits, only numbers)
:57A:XXXXXXXX
BIC of beneficiary bank
:72:/REC/44444444444
Bank tax ID (11 digits, only numbers)
/NAME/XXXXXXXXXX
Name of beneficiary
/PEP/XXX
PEP/NO PEP. If blank, CCB will take NO PEP as default.
MT202
:20: Transaction Reference Number
16 characters maximum
:32A:190225ARS10
ARS
:53A:1111111111
Local cash account to be debited (10 digits, only numbers)
:56A:XXXXXXXX
BIC of beneficiary bank
:57A:/2222222222222222222222
CBU (Unique Bank Code) of beneficiary (22 digits, only numbers)
:58A:/333333
Participant code in Euroclear or Clearstream (only numbers)
:72:/REC/44444444444
Beneficiary tax ID (11 digits, only numbers)
/NAME/XXXXXXXXXX
Name of beneficiary
/PEP/XXX
PEP/NO PEP. If blank, CCB will take NO PEP as default.
Further information
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation accounts), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.
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